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GIPC Act demanding $1m from foreign investors to be amended soon – MP

The government is gearing up to reassess the Ghana Investment Promotion Centre (GIPC) Act concerning foreign involvement in the retail business within Ghana. Under Section 28 of the GIPC Act, foreigners aiming for joint ventures are mandated to present a capital investment of $200,000. Individual foreigners intending to engage in retail business within Ghana must […]

FERIA DE ABRIL

Join Us For an Unforgettable Evening!Indulge in Authentic Spanish Flavors, and savour the rich aromas and tantalizing tastes of Spain’s culinary delights. From traditional sangria to flavorful tapas, Mama Cuisine will transport you to the heart of Spain with every bite. Live Flamenco Music & Dance: Experience the passion and energy of Flamenco performances throughout the […]

Ghana’s public debt hits GH¢742bn from GH¢658.6bn – Amin Adam

Dr Mohammed Amin Adam, the Finance Minister, has disclosed that the central government’s provisional total debt stood at GH¢742 billion (US$50.9 billion) as of June this year. This figure represents 70.6 per cent of the Gross Domestic Product (GDP). While delivering the 2024 mid-year budget review in parliament in Accra on Tuesday, Dr Adam stated, […]

Ghana’s oil revenue increases to US$840m in first half of 2024

Ghana’s oil revenue has increased to US$840m in the first half of 2024. This amount represents a 36% increase compared to the US$540 million recorded during the same period in 2023. The total petroleum revenue receipts consist of proceeds from oil liftings, corporate tax, surface rental, as well as interest on the Petroleum Fund account. […]

Wood shortage looms as 75 out of 100 local timber manufacturing companies collapse

Ghana faces the risk of spending millions of cedis on timber imports, as 75 out of 100 local timber manufacturing companies have collapsed due to continuous forest destruction by bushfires. Players within the timber industry warn that the remaining 25 companies in the Western North, parts of Eastern and Central Regions, are struggling to secure […]

CCIFG & SGCC Joint Networking Cocktail

On July 4th, 2024, the Alisa Hotel-North Ridge hosted members of the French Chamber of Commerce in Ghana and the Spain Ghana Chamber of Commerce in a networking cocktail aimed at bolstering bilateral relations.  The event commenced with a warm welcome from Joaquin Roura, President of the Spain Ghana Chamber of Commerce, and Hussein Nsour, of CCI France Ghana. Their […]

Labour groups call urgent meeting over NPRA’s decision on SSNIT hotels

Organised Labour is set to hold an emergency meeting today to decide its next steps following the National Pensions Regulatory Commission’s (NPRA) approval for the sale of SSNIT shares in six hotels.  The NPRA had previously directed SSNIT on June 28 to suspend negotiations with Rock City over the sale of four hotels, pending further […]

Ghana’s exports to EU surge by 8% in 2023, reaching €2.6bn

Ghana’s exports to the European Union (EU) surged by 8% in 2023, reaching 2.6 billion euros, up from 2.4 billion euros the previous year. However, imports from the EU to Ghana declined from 3.7 billion euros in 2022 to 3.3 billion euros in 2023. According to the Ministry of Trade and Industry, the total trade […]

GIPC CEO defends removal of capital requirement for foreign businesses

The Chief Executive of the Ghana Investment Promotion Centre (GIPC), Yofi Grant, has strongly defended the Centre’s recent decision to eliminate the capital requirement for foreign businesses. Under Section 28 of the GIPC Act, foreigners aiming for joint ventures are mandated to present a capital investment of $200,000. Individual foreigners intending to engage in retail […]